KTPs on the increase, says report
Almost three-quarters (73 per cent) of small and medium-sized businesses in the Midlands have worked with a higher education institution in the past year. That's according to research published today by the Institute of Directors (IoD) and Universities UK.
The research, part of Universities Week 2011, reveals the benefits that businesses in the region have reaped after entering into arrangements including knowledge transfer partnerships (KTPs) with neighbouring universities.
More than a quarter (28 per cent) of Midlands businesses which had been involved in a KTP had employed recent graduates or post-graduates; 18 per cent had offered work experience opportunities and 11 per cent had taken on students on formal internships.
Miles Templeman, director general of the IoD, said: "This research uncovers an ever-growing network of universities and small businesses delivering genuine innovation on the frontline of British business.
"We hear all the time of exceptional ways that smaller companies are working closely with universities to mutual benefit. It’s good for our members, good for universities and good for the economy. We want to see these relationships grow even stronger."
